The author is an analyst of NH Investment & Securities. He can be reached at ryan.ra@nhqv.com. -- Ed. In 2Q20, solid domestic sales offset Hugel’s sluggish exports of toxins and fillers. We expect the effects of domestic profit reflection to continue in 2H20. The firm’s 2Q20 OP improved on a reducti
The author is an analyst of Shinhan Investment Corp. She can be reached at Heeyeon.lim@shinhan.com. -- Ed. 2Q20 surprise with NP of controlling interests of KRW219.9bn (+2,227.7% QoQ)Kiwoom Securities’ 2Q20 preliminary results came as a surprise with consolidated operating profit of KRW314bn (+2,934
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Customer deposits hovering around W40tn~W50tn, with daily average trading value remaining above W20tnSince Covid-19 began its global spread in March, abundant capital has flowed into the stock market
The authors are analysts of Shinhan Investment Corp. They can be reached at hyungwou@shinhan.com and ym.ko@shinhan.com, respectively. -- Ed. 2Q20 review: Solid earnings from MLCC and package substrates despite COVID-19Samsung Electro-Mechanics reported sales of KRW1.8tr (-5% YoY) and operating profi
Mobile trading systems have become the most frequently used stock trading platform in KOSPI with a large number of individual investors having entered the stock market this year.Korea Exchange announced on July 20 that the average daily value of trading in KOSPI based on wireless terminals such as s
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Despite low seasonality, Orion’s OP likely increased 60.7% y-y in 2Q20, helped by sales growth for existing products and new product releases. We also positively view that M/S expansion is foreseen bo
Exports fell by double digits in June, extending the downtrend to four months in a row. The impact of the new coronavirus infections did not vanish. It is difficult to expect a rebound in exports for the time being due to a flurry of unfavorable factors such as the second global wave of COVID-19 inf
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Orion saw clear earnings improvement in both April and May. Backed by sales expansion for existing products and new product launches, the firm should enjoy ongoing healthy earnings growth momentum thr
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. Chinese smartphone shipment decline in May vs expectations for 618 shopping festivalChina’s smartphone shipments declined in May. We attribute the tepid result to sluggish demand in the run-up to
Netflix has established dominance of the Korean OTT market. The company has invested a large sum of money in content creation for some time and has become the biggest beneficiary of the COIVD-19 outbreak, which is forcing most of the population to stay home.According to Wiseapp, a retail market anal
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Affected by a roughly W120bn loss at the PI business, Kiwoom posted sluggish 1Q20 results. In 2Q20, however, a portion of the PI losses should be recovered, and profits at the retail business should
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed.In the short term, prospects for Mando look positive thanks to Chinese auto market recovery. However, whether Mando can successfully grab business opportunities and establish a position for itsel
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. Initiate coverage with BUY for a target price of KRW34,000We initiate our coverage of Aekyung Industrial with a BUY rating. Our target price of KRW34,000 i
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. Advertising Industry: Amid unfavorable industry environment, differentiating factors requiredReflecting the unfavorable external environment caused by Covid-19, we downgrade our rating on the adver
Due to the spread of the COVID-19 virus, Korean companies’ earnings shock has become a reality.The first-quarter operating profit forecasts of 88 KOSPI-listed companies that have earnings estimates from at least three securities firms totaled 16.45 billion won, said Fn Guide, a financial information
The Financial Supervisory Service (FSS) announced on March 16 that the combined net profit of the 56 South Korean securities companies increased from 4,166.7 billion won to 4,910.4 billion won last year.Specifically, their commission income fell 2.3 percent to 9,490.2 billion won. Especially, their
The authors are analysts of Shinhan Investment Corp. They can be reached at changmin.yoon86@shinhan.com and kimkyuri@shinhan.com, respectively. -- Ed. 4Q19 OP in line with market consensus at KRW12bn (+367% YoY)OptoElectronics Solutions posted operating profit of KRW12bn (+367%YoY) on sales of KRW50
Hyundai Motor and Kia Motors significantly ramped up sales of their electric vehicles (EVs) in Europe. Hyundai and Kia's EV sales in the European market in January stood at 6,083 units, up 71.3 percent from 3,552 units in January, Hyundai and Kia said on Feb. 18.By car model, Kia Soul EV sales r
LG Household & Health Care (LG H&H) delivered record-high annual results in 2019. The company reported 7.7 trillion won in sales, up 13.9 percent from 2018, 1.2 trillion won in operating profit, an increase of 13.2 percent, and 788 billion won in net profit, a 13.9 percent increase on year.The compa
Last year, as the stock market slumped, the amount of funds raised through stock issuance decreased by more than 40 percent from 2018.Stock issuance in 2019 reached 5,317.2 billion won, down 40.2 percent from a year earlier, the Financial Supervisory Service said on Jan. 28. This is the lowest figur